U.K. Core Retail Sales (YoY) For November 0.3% Vs. -2.1% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. core retail sales for November showed an increase of 0.3% year-over-year, compared to the revised prior figure of -2.1%.
December 22, 2023 | 7:20 am
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The U.K. core retail sales increase may signal a stronger retail environment, potentially benefiting the iShares MSCI United Kingdom ETF (EWU).
As EWU tracks the investment results of an index composed of U.K. equities, better-than-expected retail sales figures suggest a stronger retail sector, which is a significant component of the U.K. economy. This could lead to increased investor confidence in the U.K. market, potentially driving up the price of EWU in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75